Good news, new mTORC1 inhibitors are moving forward with good funding. This is the startup that Dudley Lamming is an advisor to. This drug could eventually be a new and improved version of rapamycin type drugs. This would be a good submission to the ITP program. I will email Dudley to see if he’s made a submission.
Aeovian Pharmaceuticals – a clinical-stage biopharmaceutical company developing novel and highly selective therapeutics that potently inhibit the mTORC1 pathway – announced that it dosed the first cohort of participants in a Phase 1 clinical trial for its lead development candidate AV078, a first-in-class CNS penetrant selective mTORC1 inhibitor. The company also recently completed a $50 million financing led by Hevolution. Hevolution was joined by existing investors Apollo Health Ventures, Sofinnova Investments, venBio, Evotec, and b2venture.
This funding will support the completion of the Phase 1 clinical trial in healthy volunteers and prepare for the start of a subsequent Phase 2 clinical trial in adult and pediatric patients with TSC refractory epilepsy. And the company has also expanded its leadership team by appointing seasoned industry veterans William Greene, M.D. (Chief Investment Officer at Hevolution) and Justin Gover (former Chief Executive Officer of GW Pharmaceuticals) to its Board of Directors and Micah Zajic as Chief Financial Officer.
Aeovian Pharmaceuticals , a Berkeley, CA-based clinical-stage biopharmaceutical company, raised $55M in funding.
The round was led by Luma Group and CTI Life Sciences Fund, with participation from Foresite Capital, SymBiosis, the TSC Alliance Endowment Fund, Wilson Sonsini, Apollo Health Ventures, Hevolution, Sofinnova Investments and venBio.
As part of the Series B financing, Aeovian has appointed Themasap Khan, Ph.D., co-founder and partner at Luma Group, and Youssef Bennani, Ph.D., managing partner at CTI Life Sciences, to its Board of Directors.
The company intends to use the funds to advance AV078 into a Phase 2 study in participants with TSC-refractory epilepsy.
Aeovian Pharmaceuticals is a clinical-stage biopharmaceutical company developing targeted and highly selective small molecules that restore cellular metabolic quality control by inhibiting mTORC1 or CD38. its lead candidate, AV078, is a first-in-class CNS-penetrant selective mTORC1 inhibitor in Phase 2 development for refractory epilepsy associated with tuberous sclerosis complex (TSC), a rare genetic disorder driven by hyperactive mTORC1 signaling